Hudson's Bay Co.
HBC, +0.44%
said Monday that it is pursuing strategic alternatives for its Lord & Taylor department store business, including a sale or merger. On a day when most other retail stocks were down, Hudson's Bay shares were up 2.7% after the news. In a statement, Chief Executive Helena Foulkes said the company has taken a number of steps "that have resulted in a far stronger, more capable HBC." In June 2018, Hudson's Bay announced that Lord & Taylor was vacating its iconic Fifth Avenue store in Manhattan to make way for WeWork, and announced plans to shutter up to 10 stores through 2019 as it focused on the digital business. Hudson's Bay's other department store chains include Saks Fifth Avenue and Saks Off 5th. Hudson's Bay shares are up 4.1% for the year to date while the ProShares Decline of the Retail Store ETF is down 7% for the period and the S&P 500 index
SPX, +0.14%
is up 16.5%.

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